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ABSTRACTThis study aimed to examine the influence of waterfront on proximate property values in Lagos Island in order to advise investors involved in residential property development within waterfront area. In order to achieve this aim, four objectives were set and these include, identify the characteristics of the waterfront properties in Lagos Island; examine the economic benefit and risk associated with the waterfront in the study areas; analyze the trend in residential properties values in the study area; and assess the impact of waterfront on residential properties values in the study area. The data was collected from estate surveyors and values, and owner/occupiers in the study area through administration of questionnaire. The findings shows that the characteristics of waterfront include water-based recreational activities,privacy 5and water outdoor living space. The most common properties in the study area includes duplex, terrace houses and block of flats. The benefit of waterfront property includes economic impact, waterfront infrastructures, and increased property value. On the other hand, the risk of the waterfront includes flooding and natural disaster and environmental degradation. However, the benefit outweighs the risk as the study showed a consistent increased in rental and capital from the year 2014 to 2023. However, the factors influencing the property values include location, views and scenery, and waterfront access. The study therefore shows that waterfront is a good investment for investors. The study recommended that investors should prioritize location with desirable views and implement flood mitigation measures. The government should continue to improve the waterfront infrastructures and integrate climate change adaptation strategies into urban planning.
